Japan plans to encourage startup businesses by sending 1,000 people to Silicon Valley over five years to provide them with valuable entrepreneurial experience in the California tech hub, industry minister Koichi Hagiuda said last week.
The plan envisions sending 200 people from Japan to Silicon Valley annually starting in the new fiscal year which starts in April.
The government aims to draw up a five-year plan by year-end to target a tenfold increase in the number of startup companies as part of its push to drive economic growth through innovation and the cultivation of human talent.
Hagiuda said he was very impressed by the mentality in Silicon Valley in which there is no fear of failure, and that it is something Japan can learn.
From Kyodo News
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